The awards are based on a review of more than 6,000 banks and credit
unions to provide data-driven, comprehensive rankings based on specific
categories such as fees, number of branch locations, interest rates and
more
BROOKLYN, N.Y./
PRNewswire/
-- MyBankTracker announced the winners of its quarterly Best Bank
awards today, which recognize the best banks in the U.S. across seven
major categories. Chase Bank won the honor of Best National Bank and
Ally was judged the nation's Best Online Bank in Q2 2016. In the Best
Mobile App category, Simple took home top pick for its intuitive user
experience and broad capabilities. These winners reflect the growing
influence that digital and mobile technology have over consumers'
banking preferences.
"As we see the number of branches in the
US decline by as much as 3.5 percent since 2010 and many of the nation's
largest banks closing branches quicker than opening, the role of
technology has steadily increased," says Alex Matjanec, CEO and
co-founder of MyBankTracker. "Today's mobile apps are making it easier
for consumers to complete common everyday banking needs without having
to interrupt their day. We have focused on rewarding the institutions
who have focused on expanding their offering beyond the main needs."
Best Mobile Bank
Simple,
a leader in the growing trend of mobile-first banks, understands that
today's customers expect a mobile experience that handles more than just
their everyday banking needs. Looking past its beautiful design and
finger recognition technology, Simple's app is laid out to give a clear
sense of where users' money is going and monitors Safe-to-Spend
amounts, a helpful tool for ensuring you're not overspending. What we
love most about this app is how it easily handles issues that are known
for being cumbersome, like Customer Support. With Simple's app, you can
message the bank's representatives to get answers instead of having to
call them and use an automated system.
Best National Bank
This
is the second quarter in the row that Chase Bank has earned
MyBankTracker's pick as Best National Bank. Chase won because it is
well-rounded, both in terms of physical locations and digital offerings.
Chase has more than 5,600 branches and 18,000 ATMs nationwide (thanks
to its partnership with Duane Reade pharmacy), which makes it highly
accessible. Chase has also established itself as a leader by making its
mobile app features a priority. Chase recently added the capability to
view check deposits via the app and was an early adopter of fingerprint
recognition technology. Furthermore, Chase has focused on digitizing its
branches with new in-branch terminals that can handle banking needs
without the help of a teller. Chase Bank comes with a strong
MyBankTracker Rating of a "B+."
Best Online Bank
Ally
Bank, a unit of Ally Financial, has been MyBankTracker's pick for Best
Online Bank for four consecutive quarters. It boasts top notch online
and mobile banking services. Its ability to continually offer
competitive rates and a continuously improving digital banking
experience, without charging any maintenance fees, distinguishes it in
the market. Ally continues to be the perfect one-stop banking solution.
This has allowed it to keep its "A+" rating with MyBankTracker and
maintain its position as Best Online Bank.
This quarter, other Best Bank winners include:
Best Midsize Bank (Northeast): Capital One
Best Midsize Bank (Midwest): Huntington Bank
Best Midsize Bank (South) First Citizens
Best Midsize Bank (West): BBVA Compass
Best Credit Union: Pentagon Federal Credit Union
You
can find more information about MyBankTracker's Best Bank Awards at:
http://www.mybanktracker.com/news/chase-wins-best-national-bank-award
Methodology
The
MyBankTracker awards criteria looked at banks with more than 1,000
branches for Best Big Bank, while those with fewer were up for Midsize.
Credit Unions were scored within their own category, as well as the
overall.
The top Checking account selection was based on fees and
ease of waiving them, widespread ATM access and branch locations, perks
and consistent interest earned.
For Savings and CDs, awards were
given based on consistency of highest yields for national rates first,
followed by fees and minimum opening deposits.
Banks eligible for
best mobile apps or most innovative mobile experience were selected
based on breadth of features and ease of use.
The overall rank
for each institution within each category was dependent on how many days
in the quarter the institution's score was among the top 10.
About MyBankTracker:
MyBankTracker
is an independent resource that helps consumers make smarter banking
and money decisions. The platform includes solutions that provide free
bank information on more than 6,000 banks and credit unions and 30,000
financial products including savings, checking, mortgage, and general
banking fees. It also includes "Best Of" awards and editorial analysis
that enable consumers to make more informed choices. MyBankTracker is a
leading source and authority in the personal-finance space.
SOURCE MyBankTracker